In the realm of unforeseen adventures and challenges, Thailand finds itself at the crossroads of demographic transformation like never before. As the nation braces itself for an announcement that sounds more like a clarion call to action than mere policy—due in March—the gears are set in motion for a campaign that symbolizes a response to a startling revelation: Thai newborns have dwindled to their lowest in seven decades, with a mere 485,085 births recorded in 2022. This figure isn’t just a statistic; it’s a signal—a harbinger of a fertility rate set to plummet from 1.53 in 2020 to an astonishing 1.3 by 2040.
While the cradle of life seems less occupied, the other end of the age spectrum tells a different story. As of January this year, a staggering 13.2 million Thais over 60 years old constitute 20% of the nation’s populace. Fast forward to 2040, and this figure is expected to balloon to 31%, claiming a third of the country’s demographic pie. The stakes couldn’t be higher: if current trends persist, Thailand could see its population shrink to 33 million people in six decades, precipitating labor shortages and dampening productivity that are crucial to the nation’s economic vibrancy.
But despair not, for within this daunting scenario lies a beacon of hope, encapsulated in the launch of a campaign with a mission as noble as it is urgent—ushering in a new wave of vitality and productivity by bolstering workers’ incomes for a dignified retirement. Presently, Thai workers’ post-retirement income replacement rate stands at a modest 39.3%, a whisper away from the International Labour Organisation’s benchmark of 40%. A significant proportion of the populace can navigate these financial straits only by the grace of contributions to the social security scheme, provident funds, or civil service entitlements.
Enter the ‘Give Birth Great World’ campaign—a strategic initiative aimed not just at stirring the stork but ensuring that the resulting offspring emerge as high-caliber contributors to the nation’s economic engine. Spearheaded by the luminary Danucha Pichayanan, Secretary-General of the National Economic and Social Development Council (NESDC), the campaign vows to nurture these newborns into the workforce’s cream by alleviating the financial burdens often associated with raising tomorrow’s leaders.
On the table are ideas as innovative as they are essential: from subsidies for in-vitro fertilization to tax waivers that grow with the family, bolstering education quality to meet the demands of a future we’re just beginning to imagine, and even launching an app connecting students with exemplary educators. This isn’t just about numbers; it’s about nurturing potential, about shaping a future where every child is empowered to contribute meaningfully to Thailand’s story.
The Finance Ministry, a silent sentinel in this story, has expressed readiness to translate these bold visions into tangible realities, pending conversations between the NESDC and the Public Health Ministry. Pornchai Teerawet, director of the Fiscal Policy Office, mirrors this sentiment, championing measures aimed at seamlessly transitioning into a society that embraces its elderly while fostering a robust, resilient generation poised to take the reins.
And in a twist that underscores the ethos of modern economics, the Board of Investment (BOI) secretary-general, Narit Therdsteerasukdi, tosses in a reassurance that’s as timely as it is prescient: a shrinking populace does not spell doom for foreign investment. The message is clear—adaptation is the name of the game, with automation and upskilling shaping a new frontier where Thailand remains an attractive hub for innovation and investment, unruffled by the demographic ebbs and flows that mark the passage of time.
As Thailand stands on the brink of a demographic revolution, the ‘Give Birth Great World’ campaign emerges not just as a policy but as a testament to the indomitable spirit of a nation committed to turning the tide, one baby step at a time. Because in the heart of every challenge lies the seed of opportunity—and in this case, the chance to craft a future that’s as vibrant and promising as the generations it seeks to inspire.
Is encouraging population growth really the right move in a world already struggling with overcrowding and limited resources? Sounds shortsighted to me.
It’s not about overcrowding, it’s about balancing the population. Countries like Thailand need young workers to support older generations.
But at what cost to the environment and our already limited resources? There must be sustainable ways to tackle this that don’t involve increasing the population.
I see your point, SammyB, but you’re missing the economic angle. A declining population can be disastrous for any country’s economy.
Intrigued by the subsidized IVF and tax waivers. It’s an innovative approach to a complex problem, but will it be enough to change people’s minds?
That’s my concern as well. These incentives sound great on paper, but actual implementation and the impact it will have on the public’s finances are what worries me.
As someone who’s been trying to start a family, these measures give me real hope. The financial burden is often what holds us back.
What catches my eye most is the potential leap in automation and upskilling. Adapting to demographic changes by innovating – that’s futuristic.
True, but leaning too heavily on automation could have unforeseen consequences. We’re already seeing how AI is impacting jobs.
We need to think about what kind of world we’re bringing these children into. Is the focus on quantity over quality of life?
The part about improving education and matching students with top educators excites me. Educated populations drive innovation and progress.
Interesting that the Board of Investment is not worried about shrinking populations affecting foreign investment. Confidence or denial?
It’s confidence based on strategy. Modern economies are adapting by becoming more efficient, not necessarily bigger.
I wonder how they plan to market this campaign. ‘Give Birth Great World’ doesn’t exactly roll off the tongue.
Marketing is key. They need a catchy slogan that resonates with the younger generation, something that invokes a sense of national pride and personal benefit.